Weighted Average Shares Outstanding

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

WEIGHTED AVERAGE SHARES OUTSTANDING

NOTE I – WEIGHTED AVERAGE SHARES OUTSTANDING

	Three Months Ended March 31,
(in millions)	2025	2024
Weighted average shares outstanding — basic	1,477.2	1,468.4
Net effect of common stock equivalents	15.9	13.4
Weighted average shares outstanding - diluted	1,493.1	1,481.7

The following securities were excluded from the calculation of weighted average shares outstanding - diluted because their effect in the periods presented below would have been antidilutive:

	Three Months Ended March 31,
(in millions)	2025	2024
Stock options outstanding(1)	1	2

(1)    Represents stock options outstanding pursuant to our employee stock-based compensation plans with exercise prices that were greater than the average fair market value of our common stock for the related periods.

We base Net income (loss) per common share - diluted upon the weighted-average number of common shares and common stock equivalents outstanding during each year. Potential common stock equivalents are determined using the treasury stock method. We exclude stock options and stock awards from the calculation if the effect would be anti-dilutive.

We issued approximately five million shares of our common stock in the first quarter of 2025 and approximately four million shares in the first quarter of 2024. Shares were issued following the exercise of stock options, vesting of restricted stock units or purchases under our employee stock purchase plan. We did not repurchase any shares of our common stock in the first quarter of 2025 or 2024. On December 14, 2020, our Board of Directors approved a stock repurchase program authorizing the repurchase of up to $1.000 billion of our common stock. As of March 31, 2025, we had the full amount remaining available under the authorization.